The Value of Independent Oversight
As businesses grow, the demands on leadership intensify. Founders and executives become immersed in day-to-day operations, making it harder to step back and see the bigger picture. External perspectives become increasingly valuable.
The challenge: Many growing businesses lack independent board-level input. Decisions are made without sufficient challenge, risks go unidentified, and opportunities are missed. When it comes to investment or exit, the absence of proper governance becomes a significant issue.
At Oppenheim Advisory, we provide experienced Non-Executive Director services that strengthen your board, improve governance, and support strategic decision-making.
What a NED Brings
Independent Perspective
Operating outside daily operations, a NED provides:
- Objective assessment of strategy and plans
- Challenge to assumptions and groupthink
- Fresh eyes on problems and opportunities
- External market perspective
Governance Strength
Particularly important for investor-backed businesses or those preparing for exit:
- Proper board processes and documentation
- Clear division between board and management
- Risk oversight and control frameworks
- Stakeholder communication
Experience and Judgement
Drawing on careers across multiple businesses:
- Pattern recognition from similar situations
- Awareness of potential pitfalls
- Network and connections
- Best practice from other organisations
Support and Mentoring
Beyond formal board duties:
- Sounding board for management team
- Coaching on leadership and development
- Support through challenging situations
- Guidance on career and succession
Board Responsibilities
As your NED, our responsibilities include:
Strategy
- Contributing to strategic planning
- Challenging and testing strategy
- Monitoring strategic implementation
- Ensuring resource alignment
Performance
- Scrutinising management performance
- Reviewing financial and operational reports
- Holding management to account
- Ensuring appropriate targets and incentives
Risk
- Overseeing risk management framework
- Challenging risk appetite and tolerance
- Monitoring key risks and mitigations
- Ensuring appropriate controls
Governance
- Ensuring proper board processes
- Maintaining appropriate documentation
- Safeguarding stakeholder interests
- Ensuring legal and regulatory compliance
When You Need a NED
Consider adding a NED when:
- Seeking investment: Investors expect governance and often require independent directors
- Preparing for exit: Credible board strengthens position with potential acquirers
- Growing rapidly: External perspective helps navigate complexity
- Facing challenges: Independent voice valuable during difficult times
- Developing management: NED can mentor and develop leadership team
- Strengthening governance: Moving from founder-led to professionally governed
Our Approach
Board Participation
- Regular attendance at board meetings
- Preparation and review of board papers
- Constructive challenge and contribution
- Follow-up on actions and decisions
Committee Work
- Audit committee chairmanship or membership
- Remuneration committee participation
- Risk committee involvement
- Special purpose committees as needed
Between Meetings
- Available for management discussions
- Review of significant decisions
- Support during transactions or challenges
- Network introduction where helpful
Confidentiality and Independence
- Clear understanding of confidential information
- No conflicts with competing businesses
- Transparent declaration of any interests
- Independence maintained throughout engagement
Audit Committee Chair
For businesses with PE backing or preparing for investment, we often serve as independent audit committee chair:
Responsibilities
- Oversight of financial reporting quality
- External auditor relationship
- Internal control effectiveness
- Risk management framework
- Compliance and ethics
Value
- Provides investor confidence
- Improves financial control
- Prepares business for scrutiny
- Identifies issues before they become problems
Case Study: NED Supporting Exit
We joined the board of a marketing services business 18 months before their planned exit:
Our Role:
- Chaired monthly board meetings
- Led audit committee (financial reporting, controls)
- Supported management through transaction process
- Provided credibility with potential acquirers
- Guided negotiation strategy
Value Added:
- Identified control weaknesses before due diligence
- Improved board documentation and processes
- Provided reassurance to buyer about governance
- Supported management through stressful process
- Helped achieve optimal transaction outcome
Outcome: Successful trade sale at premium valuation. Buyer specifically cited board quality as factor in confidence to proceed.
Working Together
Commitment
- Typically 1-2 days per month
- Monthly or bi-monthly board meetings
- Audit committee (if applicable)
- Ad-hoc support as needed
Fees
- Fixed annual or monthly retainer
- Clear expectation of time commitment
- Additional time charged at agreed rate
- Transparent and predictable
Term
- Initial commitment typically 1-2 years
- Notice period for either party
- Can continue through transactions
- Clean handover to successor
Getting Started
Interested in strengthening your board? We offer:
- Initial discussion: Understand your situation and governance needs
- Chemistry meeting: Ensure good fit with management team
- Proposal: Clear terms and expectations
- Appointment: Proper process and documentation
Ready to strengthen your board? Book a free consultation or call us on 07990 835891 to discuss how a NED could help your business.